GPWC wants more money

The Grand Prix World Championship (GPWC) group, that plans to run its own series from 2008 when the current Concorde Agreement expires, wants more money from the revenue generated by F1. Due to meet with teams today to discuss future involvement...

The Grand Prix World Championship (GPWC) group, that plans to run its own series from 2008 when the current Concorde Agreement expires, wants more money from the revenue generated by F1. Due to meet with teams today to discuss future involvement with the alternative championship, the GPWC is willing to compromise on all but the cash issue.

"I have the feeling that things are very clear," Renault chairman Patrick Faure told the Guardian newspaper. "There has been the first era of Formula One, now there will be another."

"We are happy to keep Bernie (Ecclestone) as CEO, but the majority of the money generated by F1 has to go to the teams. Everything else is negotiable. But on this we will not compromise. We need this sport to be paid for by the revenues it generates."

Documentation from the GPWC with its proposals is due to be presented to the teams and it seems so far that those involved are happy with the way things are going.

Renault, Ferrari (which took over from parent company Fiat in the group), BMW, Ford and Mercedes are the manufacturers that currently comprise the GPWC and there has been talk that Toyota is considering joining.

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Series Formula 1
Teams Ferrari , Mercedes